Earnings Per Share

The following table summarizes the Company’s computation of basic and diluted earnings per share (EPS) for the years ended December 31, 2017, 2016 and 2015 (amounts in thousands except per share information):



	Year Ended December 31, 2017
	Income (numerator)			Shares (denominator)	Per Share Amount
Basic EPS:
Income from continuing operations	$	262,968
Less: preferred dividend requirements and redemption costs	(28,750		)
Net income available to common shareholders	$	234,218		71,191	$	3.29
Diluted EPS:
Net income available to common shareholders	$	234,218		71,191
Effect of dilutive securities:
Share options	—			63
Net income available to common shareholders	$	234,218		71,254	$	3.29



	Year Ended December 31, 2016
	Income (numerator)			Shares (denominator)	Per Share Amount
Basic EPS:
Income from continuing operations	$	224,982
Less: preferred dividend requirements	(23,806		)
Net income available to common shareholders	$	201,176		63,381	$	3.17
Diluted EPS:
Net income available to common shareholders	$	201,176		63,381
Effect of dilutive securities:
Share options	—			93
Net income available to common shareholders	$	201,176		63,474	$	3.17



	Year Ended December 31, 2015
	Income (numerator)			Shares (denominator)	Per Share Amount
Basic EPS:
Income from continuing operations	$	194,333
Less: preferred dividend requirements	(23,806		)
Income from continuing operations available to common shareholders	$	170,527		58,138	$	2.93
Income from discontinued operations available to common shareholders	$	199		58,138	$	0.01
Net income available to common shareholders	$	170,726		58,138	$	2.94
Diluted EPS:
Income from continuing operations available to common shareholders	$	170,527		58,138
Effect of dilutive securities:
Share options	—			190
Income from continuing operations available to common shareholders	$	170,527		58,328	$	2.92
Income from discontinued operations available to common shareholders	$	199		58,328	$	0.01
Net income available to common shareholders	$	170,726		58,328	$	2.93

The additional 2.1 million common shares for the year ended December 31, 2017 and 2.0 million common shares for both years ended December 31, 2016 and 2015, that would result from the conversion of the Company’s 5.75% Series C cumulative convertible preferred shares are not included in the calculation of diluted earnings per share for the years ended December 31, 2017, 2016 and 2015, respectively, because the effect is anti-dilutive. The additional 1.6 million common shares that would result from the conversion of the Company’s 9.0% Series E cumulative convertible preferred shares and the corresponding add-back of the preferred dividends declared on those shares are not included in the calculation of diluted earnings per share for the years ended December 31, 2017, 2016 and 2015, because the effect is anti-dilutive.

The dilutive effect of potential common shares from the exercise of share options is included in diluted earnings per share for the years ended December 31, 2017, 2016 and 2015. However, options to purchase 7 thousand, 72 thousand and 236 thousand shares of common shares at per share prices ranging from $61.79 to $76.63, $61.79, and $51.64 to $65.50, were outstanding at the end of 2017, 2016 and 2015, respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive.